BULGARIA: Government to make state-own property insurance against natural disasters obligatory

12 September 2012 —
Bulgarian government is to discuss a draft bill for supplements to the State Property Act, which will introduce an obligation for the public-private real estates to be insured against natural disasters and earthquakes.

The proposed changes are analogical to the amendments approved by the cabinet two weeks ago in the draft bill for amendments and supplements to the Municipal Property Act and were incited by the latest natural disasters faced by Bulgaria - the floods in February and the strong earthquake in May this year.

Serious amount of money was allocated to cope with the damages and the consequences after the latest natural disasters, which could have been saved if the municipalities and the citizens had insured their property against all kinds of risks.

Read the full story on  Focus News.
BULGARIA: Government to make state-own property insurance against natural disasters obligatory
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